According to Steve Brown, folks in the Cedars can expect more loft housing thanks to a recent purchase from SkyWalker Property Partners out of Arlington. The firm, which buys up distressed industrial, retail, and historic properties in Texas, just bought the 110-year-old Hughes Brothers Candy Factory building on South Ervay Street.
The building, which has been boarded up for quite some time, was being used for unauthorized parties and was sometimes used by squatters. To the delight of preservationists, SkyWalker will convert the building into housing.
The new owners plan to spend $3.2 million converting the former manufacturing building into residential units.
“We just love the area, its growth and momentum,” SkyWalker Property’s Clint Holland said in a statement. “It’s got phenomenal views of Downtown Dallas that will always be unobstructed.”
The new owners bought the building from Frieda Bosh, the mother of Miami Heat basketball player Chris Bosh. Terms of the sale were not disclosed.
The 5-story building contains about 7,000 square feet.
Loft housing is very popular in this area, which is a hot spot for artists. I think this will be a very successful development for SkyWalker if they keep prices affordable. What do you think?